Exports are projected to reach $84.4 billion in 2010 in a new three-year Export Development Plan that President Gloria Macapagal-Arroyo has approved, the government-private sector Export Development Council (EDC) said.
The plan puts export earnings at $64.2 billion in 2008, up nine percent from $58.8 billion in 2007.
However, the Philippine Exporters Confederation said these projections might have to be reviewed because the global financial meltdown might have rendered them unrealistic.
The EDC said that under the plan, which President Arroyo approved last month, exports of goods are expected to grow by 4-8 percent and exports of services by 35-40 percent.
“The plan will focus on high-value exports like minerals and information and communication technology-based services,” it said.
“Other revenue streams are electronics; food; homestyle products; motor vehicles, parts and components; textile and apparel, as well as construction; health and wellness; logistics, entertainment, and education,” it added.
The EDC said the Export Development Plan 2008-2010 maps out strategies to achieve the export earnings targets amid current trends that affect global demand for Philippine goods and services, including a recession in the United States, a major market for Philippine exports.
“New features of the plan include strategies that will bolster competitor intelligence and branding consciousness, capacity building of enterprises, and more aggressive export promotion,” the EDC said. “The President also instructed to focus on tourism and game development.”
On the other hand, Sergio Ortiz-Luis Jr., president of the Philippine Exporters Confederation (Philexport), said the targets should be reviewed and might have to be scaled down to reflect the effects of a global recession.
Ortiz-Luis, who is EDC vice chairman representing the private sector, said Philexport would assess how deep the looming recession in the United States and Europe would be and how it would impact Philippine exports.
Still, he expressed confidence that there would be growth in Philippine exports.| < Prev | Next > |
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